“Think of how other connecting platforms like eBay, Match.com, and the powerful Facebook have already transformed our lives. Why should we accept any less in the small business loan segment?” http://www.mo.com/david-nayor-boefly … [Read more...]

Las Vegas Business Press - BANKING 2012: Loans of Tomorrow: Technology bends banking in new directions and opens business options. The days of conducting all your banking in a branch are quickly coming to an end.  … [Read more...]

American Express’s effort to designate the Saturday after Thanksgiving as a day to patronize Small Businesses is Great…But Misses a Key Group.American Express deserves enormous credit for their initiative to remind Americans that their shopping decisions can have a colossal impact on small businesses and in turn, the American economy.  Most notably, Amex puts their money where their mouth is by directly paying shoppers $25 for shopping at a small business.  We were disappointed; however, to read in their fine print that Amex excludes# an engine of small business and a vital job creator: franchise owners.  The franchise community covers over 825,000 small businesses across 300 business lines, providing nearly 18 million jobs and generating over $2.1 trillion to the U.S. … [Read more...]

More small business owners who are seeking financing are bypassing the traditional methods of applying for loans by signing up with BoeFly, the premier online marketplace connecting small business borrowers with nationwide lenders. BoeFly leverages technology to dramatically simplify the execution of commercial transactions, helping borrowers build a loan package and connect with lenders who are ready and willing to fund their loans. http://advantagebizmag.com/archives/10035 … [Read more...]

Historically challenging economic conditions require small business owners to keep all options on the table.  We recently paid a visit to a franchisee who successfully secured a loan BoeFly.  Over delicious food in his sparkling quick service restaurant, this hard-working owner-operator of a top-100 franchise brand (according to Franchise Times) explained how he successfully renegotiated his lease.  By following some important rules, this QSR owner-operator prevented a certain lose-lose situation for him and his landlord.  While we may not describe the result as a ‘win-win’ for the tenant and landlord, we know that avoiding a ‘lose-lose’ is always a good thing. Here are four points to consider when considering a lease renegotiation: Start with a Good Tenant-Landlord … [Read more...]

For many entrepreneurs in Texas, going from bank-to-bank and filling out multiple loan applications in the current environment of tightening credit can be a frustrating and inefficient experience. Recently, however, an increasing number of Texas businesses, including many in North Texas, are turning to a new online loan exchange called BoeFly that does for lenders and borrowers what online dating services do for singles. "The average bank will spend 300 to 400 basis points in order to originate a loan," said Mike Rozman, co-president of BoeFly. "There just needed to be a better way, so we established BoeFly as a technology solution for that. Read More - Fort Worth Business Press … [Read more...]

This past week in an article for The Weather Channel, Meteorologist Chis Dolce posted "there's only one way to describe this week’s snowstorm – historic.”  The weekend’s weather set records for the month of October, with one to two feet of snowfall ,affecting everyone across the Northeast. Homes and businesses have been without power or heat, ranging all the way from the Mid-Atlantic to New England. Despite the inconveniences the recent storm brings, it also presented a business opportunity for both small and large companies alike. Hardware, convenience, and appliance related retailers are in high demand at the moment, with people flocking to purchase generators, shovels, firewood, and even tree removal services. As evidenced by the recent hurricanes as well, when weather related … [Read more...]

In today’s risk-averse credit climate, small businesses are having a tough time finding loans and growth capital. These alternatives can help lower the burdensome bar. It’s a challenge that won’t seem to let up. Despite all the initiatives designed to jump-start lending for small businesses — and rev up the job engine — banks are still sitting on cash and tighter lending standards for small enterprises. Read More - Business On Main … [Read more...]

With franchisees still struggling to access the capital necessary to open new stores and run their operations, franchisors are getting help from an online service to pair operators with suitable lenders. David Nayor, co-president and chief operating officer of BoeFly.com, says the service was concocted after he and some of his former-lender colleagues saw "a great deal of inefficiency in the lending market." "We came to the conclusion that we needed a marketplace where borrowers could go and build their loan package, and then link with lenders who were captive and wanted to fund their loans,” Nayor says, “instead of walking into a bank with a loan package or the request of a loan and really not fitting with that bank’s lending parameters." Read More - QSR Magazine … [Read more...]

Lauren Mobley wanted to give up her career in fashion design and own a simple business closer to her parents in Hendersonville. But she needed financing. So Mobley turned to a new website that linked her to a local lender. And now she’s ready to launch her small Rock Hill-based retail shop, Wild Birds Unlimited, a small franchise that sells birdhouses and accessories. Charlotte_Business_Journal_WBU_article  … [Read more...]